Nothing new behind the clouds? A structured literature review of empirical research on corporate risk disclosure

Purpose: This paper aims to review and critique empirical research on risk disclosure (RD) in nonfinancial firms, develop insights into the current state of the field, and outline a future research agenda. Design/methodology/approach: A structured literature review is conducted on 209 empirical papers published between 2000 and 2025 in journals indexed in Scopus and Web of Science. Eleven classification criteria are applied to provide a granular overview of prevailing trends in RD research and identify avenues for future development. Findings: Empirical RD research has expanded significantly in volume, scope and analytical depth. Nonetheless, geographic and thematic imbalances persist, with studies concentrated in a few developed countries and several RD categories remaining underexplored. Methodologically, the field has evolved from positivist, volume-based approaches toward more interpretive and strategic analyses, increasingly supported by computational tools. Yet, qualitative and mixed-method designs remain underused. Research implications are frequently reiterated, particularly at the macro level and the potential for greater stakeholder relevance is considerable. Originality/value: This study broadens the scope of existing RD literature reviews by mapping thematic and methodological developments. It offers a consolidated synthesis of research trajectories and highlights emerging analytical sophistication. By identifying neglected areas and advocating recalibrating research priorities, the review fosters a more integrated, context-sensitive understanding of RD, guiding future scholarship toward greater relevance and impact.